The Altoona-based company has 394 stores, with more than half in Pennsylvania. Six stores will be added by August to get to 400, executive vice president Joe Sheetz said.
The chain has plans to hit the 500 mark in three years, with North Carolina and West Virginia the prime targets for expansion. In North Carolina alone, Sheetz hopes to build about 10 new stores a year.
"We picked North Carolina because it has one of the fastest growing populations in the country and the weather is mild most of the year. You also get a lot of long-distance commuters," Sheetz said in Tuesday's edition of the Altoona Mirror. The chain opened its first store in North Carolina in Walkertown in 2004.
The company also plans to expand into the Charleston and Huntington markets in West Virginia. Sheetz has had locations in the northern part of that state for years, including Morgantown and Berkeley Springs.
Sheetz opened its first store in Altoona in 1952 About 75 percent of the company's $4.9 billion in revenue come from gasoline sales, but not 75 percent of the profit.
"The national average (for profit) is 15 cents a gallon, we make less than that because we price aggressively," Sheetz said. "People come in to buy gas, but we hope that is not the only thing they want. We hope to get them inside the store."
Revenues inside the stores have grown at a nice clip, Sheetz said.
"We are not severely affected by the recession because the stuff we sell is not expensive and part of people's everyday lives. Rarely are people cutting out their daily paper, coffee and their sandwich at lunch. People trade down in the food market place, and they go to McDonald's or Sheetz. That helped us get through."
